malikmar24nightwolf malikmar24nightwolf
  • 04-05-2017
  • Mathematics
contestada

You deposit $10 per month in a bank that offers an annual interest rate of 6%. At the end of three years, your balance is404.95 $517.21 $676.45 $393.94

Respuesta :

BlueSky06
BlueSky06 BlueSky06
  • 16-05-2017
We can compute for the total savings after three years and the solution is shown below:
i = 6%/12 months = 0.5 %
n = 3 years * 12 months = 36
F = P (1+i)^n
F = $10*36 (1+0.005)^36
F = $431

The answer is the letter "A" which is approximately equivalent to $404.95. 
Answer Link

Otras preguntas

What's 5 divided by x squared explain
What were the contributions of the Harappan civilization?
What all the multiples of 81?
What were the contributions of the Harappan civilization?
What all the multiples of 81?
The inner and outer Radii of a cylindrical pipe are 5 cm and 4 cm respectively. find the area of cross section of the pipe.
Does an owl have a backbone?
a lunch bill including tax, is divided among you and 5 friends. everyone pays less than $8.75. write and solve an inequality that describes the total amount of
A blue rope is 3 times the length as a red rope. A green rope is 5 times as log as the blue rope of the total length of all 3 ropes equals 508.25m what is the l
What is 25% of $500.00? I think the answer is $475.00 Can someone verify if twenty five percent of 500.00 is $475.00